Search results
Hydro, Norway to purchase processed aluminum scrap from Sims Alumisource in North America
Norsk Hydro ASA (Hydro) entered a multi-year agreement with Sims Alumisource to purchase processed aluminum scrap for its North American extrusion business. Hydro will get access to roughly 36,000 tons of additional post-consumer aluminum scrap.
Hydro and Sims Alumisource have worked together to refine the processing
GlobalData blog: After a strong 2023, what’s next for North American production in 2024?
Light Vehicle production in North America for 2023 rose by 9.5% YoY – nearly 1.4 million more vehicles than in 2022. This growth was achieved by vast improvement in the supply of semiconductors, along with fewer parts supply issues, in general, and a stronger-than-expected regional demand environment, despite headwin
Volkswagen Group unveils 2024 strategy
On March 13, Volkswagen Group announced its 2024 outlook. It prioritizes electromobility and digitalization while focusing on new vehicle launches, reducing costs, leveraging synergies within the Group, and strengthening regional positioning, notably in North America.
Strategic investment planning aims to enhance com
Kyndryl, US expands collaboration with Stellantis to enhance IT operations and digital transformation
On March 4, Kyndryl, an IT infrastructure services provider, announced that it has expanded its multiyear agreement with Stellantis to manage essential business operations in Europe, North America, and South America. This builds on the February 2023 agreement and focuses on networking, datacenter support, and local I
Gestamp launches Phoenix plan to improve performance in NAFTA region
Gestamp Automocion S.A. (Gestamp) launched the Phoenix plan to improve its performance in the NAFTA region, which has diluted the group’s overall performance in recent years.
In this market, Gestamp reported an EBITDA margin of 6.7% on sales compared to the rest of its automotive business, which represents 12.6%. As
Ramkrishna Forging, India secures USD 220 million contract from North American market
On February 20, Ramkrishna Forgings Limited announced that it secured a contract worth USD 220 million. This contract spans over a decade and marks its foray into a new vertical within the forging sector, focusing on supplying Tier 1 customers in the light vehicle segment across North America.
Based on Ramkrishna For
Forsee, France to provide battery system for BAE Systems’ Class 7 demonstration truck powertrain
On February 1, Forsee Power announced that BAE Systems, a leading solution provider for heavy-duty electric powertrains, will equip a Class 7 demonstration truck Gen3 powertrain with the FORSEE ZEN PLUS battery system in North America. The ZEN PLUS batteries offer an excellent specific energy of 180 Wh/kg.
The Forse
Volvo all-new Volvo VNL to launch in North American in the end of the first quarter of 2024
On January 29, Volvo Trucks unveiled an all-new heavy-duty truck platform for the North American market.
The new North American energy-efficient platform will cut fuel consumption by up to 10%, joining other new energy efficient models, including trucks running on electricity and renewable fuels, that will take the c
Kia presents Q4 and cumulative 2023 sales report
On January 26, Kia published its commercial results for the fourth quarter and cumulative 2023.
During 2023 Kia sold 3.1 million units, an increase of 6.4% compared to 2022. This represents revenue of EUR 68.5 billion, 15.3% more than the previous year and brings about operating profit of EUR 7.9 billion, 60.5% more
European Commission clears creation of joint venture by Ford, BMW and Honda
On January 16, the European Commission approved, under the EU Merger Regulation, the creation of a joint venture by Ford Motor Company of the US, BMW of Germany, and Honda Motor Co., Ltd. of Japan.
The transaction relates primarily to the provision of grid services to electric utility companies and system operators i
Stellantis and SIXT sign agreement for purchasing up to 250,000 vehicles
On January 16, Stellantis announced the signing of an agreement with SIXT, a mobility services company, to acquire up to 250,000 vehicles for its fleets in Europe and North America, over the next three years.
Some of the brands that SIXT will acquire are Alfa Romeo, Chrysler, Citroen, DS, Fiat, Lancia, Maserati, amon
Toyota adopts Mapbox platform for digital maps in North America, Europe, and Australia
On January 4, Mapbox, Inc. (Mapbox) announced that the Toyota Motor Corporation will integrate Mapbox software within its in-vehicle navigation systems. It will support the custom development and fast rendering of digital maps for the new Toyota car navigation system in North America, Europe, and Australia.
The resul
Lithium Australia collaborates with First Phosphate Corp. for lithium cathode manufacturing plant in North America
On December 7, Lithium Australia Ltd. (LIT) signed MoU with First Phosphate Corp. regarding the potential development of a lithium iron phosphate (LFP) and lithium iron manganese phosphate (LFMP) cathode active material (CAM) manufacturing plant in North America.
LIT, through its subsidiary VSPC Pty Ltd, has propriet
FORVIA wins new business for hydrogen storage systems in North America
FORVIA won a contract from a major clean energy technology company to supply Type IV hydrogen storage systems for heavy-duty commercial vehicles in the North American market, with production starting in 2025. This is the second award for hydrogen storage solutions acquired by FORVIA in North America this year. (Based
GlobalData blog: Is global automotive capacity headed for a day of reckoning?
The recovery in global Light Vehicle (LV) demand in 2023 has been stronger than expected, as supply constraints eased in most markets. The outlook for 2023 has been increased by 4%, from 85.8 million units in January to 89.2 million units in November. However, this recovery and, more specifically, consumers still fac
Kempower, Finland to start production of EV chargers in US
On November 10, Kempower, an EV fast-charging solutions provider, announced that it has received ‘Electrical Testing Laboratories’ certification from Intertek Testing Laboratories, allowing production to begin at its new production facility in Durham, North Carolina.
ETL certification gives Kempower, an official auth